by Genova Service Department

On December 5, 2017, Genova (Changzhou) Biotech Co., Ltd. (hereinafter referred to as "Genova biotech" or "the company") announced that it had obtained a round B investment of US $50 million invested by a wholly-owned subsidiary of Tasly. This round of financing will support the international industrialization development of Genova biological insulin analogues and promote the construction of insulin Ecological Industrial Park in the 21st century.

Genova biotech is an advanced insulin manufacturing enterprise based in China and facing the world. It aims to create "product quality first, production cost lowest and industrial scale leading". It was founded by Dr. Shen Chun, a distinguished expert of the national "thousand talents plan" and an advanced individual of the national "863" plan, It is jointly invested and established by BVCF wealth, China's first dollar venture capital fund focusing on the medical and health industry, and Changzhou life and health industry fund.

After more than 20 years of deep cultivation in the field of insulin pharmaceutical, through innovative design, technological innovation and iterative upgrading, Genova biotech team has independently developed a set of industrialized production technologies with high efficiency, low consumption and environmental protection, surpassing the technical and quality standards of the three major insulin multinational pharmaceutical enterprises. The company's core product insulin analogues have been tested by two third-party authorities in Europe and China. The results show that they all exceed the current European Pharmacopoeia standards, the comparison test results are highly consistent with the original drugs developed by multinational pharmaceutical enterprises, and the product purity and production efficiency exceed the industry average level of three generations of insulin at home and abroad.

According to the current approval regulations, registration requirements and quality standards of the EU and the China food and drug administration, Genova Biotech has completed the development of several insulin analogues widely used in the global market, and is now entering the implementation stage of international industrialization. The company plans to conduct simultaneous "double declaration" through the EU EMA / China CFDA insulin biological similar drug registration path in 2018, and become the first domestic insulin enterprise to enter the EU EMA declaration.